Equity is always the main issue, however the wording of the documents seem quite clear that the equity is zero. Mark
Hi Pattie1960 Really pleased it all worked out. As TDA says, even debts you were unaware of have no right of recovery due to the trust deed. If ...
The Trustee has the ability to discharge himself and return the debts back to you, however there would need to be a valid reason for doing so. Mark
Hi TDA Beat you by 16 seconds! Mark
Hi IDunc Glad it's worked out in the interim, hopefully the additional period will allow you to resolve matters. Mark
If there was a valuation and reception showing zero equity, then this should stand. I know some forms carry out valuations at the end of the trust de...
It's strange that its listed as an asset with a value of less than £1k as the allowable value for a car, depending on when the Trust Deed was signed i...
The sensible solution would be for the Trustee to allow somew leeway and reduce the TD payments, then extend the period until matters are resolved. ...
I don't think there is an easy answer I'm afraid as the current paymemnts would take around 8-9 years to complete and I'm not sure it is feasible to e...
Hi emma99 There is no legal requirement to notify the trustee of this. You should ask in terms of what legislation the requirement falls under. ...
Hi emma99 It's a strange question on a few fronts. If it's an asset then, no. Or even if you did it would still be an asset in the trust deed. I...
Hi upstream I think it's always wise to contact them before the final payment, just to ensure there are no matters outstanding and the Trust Deed c...
Hi Jkaren The Trust Deed will almost certainly kill any right for the bank to pursue the debt in terms of the Personal Guarantee as it was signed b...
Hi mathlete No problem, always glad to help. From memory, in normal circumstances if there are arrears then you woukld need 12 full months with ...
Hi Ken No, the trustee has an obligation to deal with the sale of the asset and cannot transfer the balance to you personally. The only alternative...